Anonymous
Have you attended any free investment/ business courses from the self-proclaimed internet gurus before? Feel free to share your thoughts and experience.
I see their advertisement almost every day. I'm pretty sure you all have seen Dominic and Imran ads. They claimed to have some "secret" to share with us. I heard that they will try to sell very expensive courses during their course/seminars. Is that true?
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Amelia Yamato Leow
01 Aug 2020
Student Ambassador 20/21 at Seedly
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Billy
28 Jun 2020
Development & Acquisitions Manager at Real Estate Private Equity
I'm sure some of them indeed are as they proclaim, but its the 90% others who simply only show their winning trades (but hide their losing trades). To put it simply. Person A can throw 50 darts, misses 49, but has 1 on the bullseye, Person A will brag about that one bullseye that he striked and not mention about the 49 that he missed. Welcome to the world of marketing, washing the exterior of a car but the interior is flith for the majority.
Also, it is easy to give teasers to show that why their investment courses are 'profitable'. Show some past indicators i.e. MA, tell people I bought stuffs just when the MA is turning upwards and some gullible audience would be sold.
And as everyone else mentioned. If they can grow their money by double digits a day, why not replicate it everyday instead of spending money to market / teach others their strategies?
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I feel like some of them are legit, but there's also survivorship bias at play ~ People who tout taking big risks and having them pay off are the outlier rather than the norm, and they try to sell this investment ideal to a large group of people. If these people don't have the financial literacy to discern "good" advice from "bad" advice, it becomes very harmful and that's why there are a lot of scammers taking advantage of the financially illiterate online as a get rich quick scheme. I think excellent gurus are a dime a dozen to be honest.